Machine learning in companies. Artificial intelligence as the basis of digital transformation processes
Artificial intelligence and learning machines are fundamental factors for the competitiveness and profitability of companies, and in the near future they will be implemented by companies across the board. This is the key finding of a study we recently published in co-operation with Crisp Research and Hewlett Packard Enterprise (HPE). The study found that 67 percent of companies in Germany, Austria and Switzerland are dealing with machine learning technologies, and offers an overview of the current situation and outlines future successful application opportunities in companies.
Two thirds of companies are looking to the future
The study also determines that machine learning is becoming a member of the digital mainstream. Approximately two thirds of companies are currently actively concerning themselves with the issue. One fifth are already productively using corresponding technologies, while the same proportion of companies are now investing resources in deep learning, the latest generation of neural networks. Deep learning is mostly being implemented in the automotive, consumer goods, IT, telecommunication and media sectors.
Success factor: artificial intelligence
Having spent years in academic recesses, the topic of artificial intelligence is now experiencing an unprecedented phase of innovation and growth. As well as computing power, which thanks to cloud computing is now as available and flexible as ever, huge data volumes (Big Data) are forming the foundation for model development and training in the field of artificial intelligence.
Finally, the cause of significant progress is technological development with new, hugely powerful processes, tools and frameworks. Artificial intelligence is moving from a hype and marketing trend of internet giants to a significant factor for the competitiveness and profitability of almost all companies.
Key technology: machine learning
Machine learning is one of the key technologies for companies. The combination of economical computing power, large data volumes and optimized algorithms is currently causing an exponential increase in the innovation of machine learning processes. It has the potential to drive pattern recognition, data exploration and automated data processing in sectors that previously could not be improved with manpower and other technologies alone.
“For decision makers dealing with data processing, technology and digitalization, it is imperative to concentrate on new approaches and technologies”, emphasizes Klaas Bollhoefer, *um Chief Data Scientist and a contributor to the study. “Even though the data industry age has only just begun, a company will not be able to maintain or improve its market position in the future without artificial intelligence.”
Study available for download
In compiling the content of “Machine Learning in companies” we surveyed 264 companies from a range of sectors and of varying sizes and types in Germany, Austria and Switzerland. It provides decision makers and managers with an empirically substantiated overview of the status quo in Germany and offers insights into and examples of how companies can successfully plan and implement machine learning.